Indeed, Academia.edu, PLOS, and Arxiv.org are doing something remarkable: They’re mounting a full-frontal assault on a multi-billion-dollar industry and replacing it with something that makes much, much less money.
They’re far more efficient and fairer, and they vastly increase the openness and availability of research information. I believe this will be nothing but good for the human race in the long run. But I’m sure the executives of Elsevier, Springer, and others are weeping into their lattes as they watch this industry evaporate.
Maybe they can get together with newspaper executives to commiserate.